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Friday, April 12, 2024

SanDisk – Trade of the Day


Money is flowing out of this sector and there is some negative press.

P/E at 35 with growth slowing from 3 year average.

I peg max possible price for this stock at $73 but today I think I will buy the December 65 put for $6 and sell the December 55 put for $1.75 for a net of $4.75 and a break even of $60.25 and a max profit of $5.25.

I will make another post with actual pricing.


OK, this is a another really good one:

AIG Blames Accounting ErrorsFor Restatements, Delayed Filing
By WILL DALEY DOW JONES NEWSWIRESNovember 9, 2005 8:19 a.m.

Sell right? That’s where the herd is heading down $1 in pre market.

Nobody reads is the problem:

AIG believes the errors resulted in an understatement of previously reported retained earnings as of June 30 of about $500 million.

If I were a daytrader, I would certainly think about looking for a bottom at the open for a quick in and out.

Since I am not, I will just watch this closely – who knows how “retained” earnings will affect actual profits but this is certainly nothing worth panicking over – let’s hope people do!

I would call $64 an inflection point on this stock, if it bounces off that it could make another run at $72, especially with a lot of money flowing into this sector!


Great Housing Article

I have nothing to add to this, this guy is dead right (and he was great as Freddie Kruger)!

BusinessWeek OnlineDon’t Let Housing’s Seasons Scare You


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